Illinois crypto tax signed into law, former IRS digital assets chief Trish Turner calls it an internet tollbooth hitting small brokers.

Illinois Governor Pritzker enacted a 0.2% tax on all crypto transactions including wallet transfers, drawing sharp criticism as the nation's harshest digital asset levy.

Illinois Governor Pritzker signed 0.2% crypto tax including personal wallet transfers, labeled most punitive in US by industry group.

Illinois Governor Pritzker enacted a 0.2% tax on crypto transactions including personal wallet transfers, deemed the nation's most punitive digital asset tax.

Japan cuts crypto capital gains tax to 20% and classifies Bitcoin as financial instruments, aligning rules with stocks while paving way for crypto ETFs next year.

Congress to discuss crypto tax rules as Bitcoin and BTC markets face regulatory scrutiny in 2026.

House Ways and Means Committee circulates seven digital asset tax drafts overhauling U.S. crypto taxation on stablecoins, mining and wash sales.

Congress receives seven crypto tax bills targeting digital asset rules, reporting mandates and Bitcoin taxation frameworks in 2026.

House Ways and Means Committee circulates seven digital asset tax drafts breaking apart Miller-Horsford Digital Asset PARITY Act and Lummis crypto tax bill for standalone votes.

According to @alice_und_bob, taking roughly half of compensation in vesting tokens created a corporate tax liability because token compensation is treated as company revenue, while the tokens could not be sold to build cash reserves (source: @alice_und_bob on X, Dec 5, 2025). The author states year 2 tax obligations were estimated off stronger year 1 revenue, with corporate taxes for both years due in September of year 2, just as the token price fell 70 percent (source: @alice_und_bob on X, Dec 5, 2025). As a result, the author reports being unable to meet tax payments either by selling tokens or using cash, creating acute liquidity stress and potential insolvency next year (source: @alice_und_bob on X, Dec 5, 2025). The author adds they are still exploring whether token losses can offset year 2 earnings, underscoring how vesting restrictions and tax timing can decouple liabilities from market liquidity, heightening downside and credit risk for token-funded operators (source: @alice_und_bob on X, Dec 5, 2025). For traders, this case highlights tax-driven overhang risks around vesting schedules and filing deadlines when token prices decline sharply, amplifying sell pressure and counterparty risk in crypto markets (source: @alice_und_bob on X, Dec 5, 2025).

According to @WatcherGuru, U.S. Senator Cynthia Lummis said she is working to eliminate taxes on small Bitcoin transactions. Source: https://twitter.com/WatcherGuru/status/1976097558666813879 Under current IRS guidance, spending cryptocurrency is treated as a taxable disposition of property, meaning even small purchases can trigger capital gains reporting. Source: IRS Notice 2014-21 at irs.gov For traders, the key variables to monitor if legislation is introduced are the de minimis threshold, any inflation indexation, and the effective date, as these determine how many everyday BTC payments would avoid capital gains reporting. Source: prior de minimis legislative summaries on congress.gov and IRS Notice 2014-21 at irs.gov

According to @smtgpt, India holds the second-highest global position in Bitcoin (BTC) ownership, even as investors face a 30% capital gains tax, a 1% tax deducted at source (TDS) on transactions, and restricted institutional participation. This strong retail engagement highlights robust demand and market resilience. Traders should monitor potential regulatory changes in India, as friendlier policies and clearer frameworks could lead to increased capital inflows and heightened BTC trading volumes. Source: @smtgpt (Sumit Gupta, CoinDCX).

According to @rovercrc, a rumor is circulating that Donald Trump may announce a 0% tax on all Bitcoin (BTC) and cryptocurrency payments in the United States. While this information is unconfirmed, such a policy, if enacted, would represent a monumental shift in U.S. crypto regulation. For traders, a 0% tax on crypto transactions could significantly boost the utility and adoption of digital assets as a medium of exchange, potentially leading to a substantial increase in market demand and upward price pressure on cryptocurrencies like Bitcoin.

According to @DowdEdward, the U.S. Supreme Court has declined to review a case challenging the Internal Revenue Service's (IRS) authority to obtain user data from Coinbase, a decision with significant implications for cryptocurrency traders. The case stemmed from a 2016 "John Doe summons" where the IRS demanded records for thousands of Coinbase customers to identify potential tax evaders. The plaintiff, James Harper, argued this violated his Fourth Amendment rights, but lower courts consistently sided with the IRS, citing the agency's broad latitude to pursue unpaid taxes. The Supreme Court's denial solidifies the legal precedent, known as the third-party doctrine, which states that individuals have no reasonable expectation of privacy for information voluntarily shared with third parties like exchanges. For traders, this ruling confirms that their transaction data on platforms like Coinbase is accessible to the IRS, underscoring the critical importance of accurate tax reporting to avoid potential audits and penalties.

According to @StockMKTNewz, crypto investors face a dual landscape of imminent risk and potential reward. A significant threat looms from the IRS, which is intensifying enforcement with clearer rules like Revenue Procedure 2024-28 and an increase in compliance notices. For traders, a critical risk for the 2025 tax year is the new Form 1099-DA, which could report sales to the IRS with a default $0 cost basis for transferred assets, leading to artificially inflated taxable gains and potential audits. Conversely, a Coinbase Research report highlights a constructive outlook for the second half of the year, driven by a stronger macroeconomic backdrop with improving U.S. growth and anticipated Federal Reserve rate cuts. The report also notes that regulatory progress, such as the GENIUS and CLARITY Acts, alongside growing corporate adoption, could provide strong tailwinds for the market. These factors suggest Bitcoin (BTC) is poised to benefit, while the outlook for altcoins may depend more on specific catalysts like ETF approvals.

According to @WhiteHouse, the U.S. is advancing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, with a final Senate vote expected next week before it moves to the House. The legislation aims to bolster U.S. dollar dominance by providing regulatory clarity for the over $190 billion dollar-backed stablecoin market, establishing clear rules for reserves, audits, and consumer protection. This legislative push is framed as essential for keeping financial innovation within the U.S. as other regions like the European Union implement their own crypto frameworks. In a separate development, a major budget bill passed the Senate without Senator Cynthia Lummis's amendment to ease crypto taxation on small transactions, representing a setback for broader crypto tax reform efforts. Amid these regulatory shifts, Ethereum (ETH) is trading at approximately $2,513 on the ETH/USD pair, marking a slight 24-hour decline of 0.285%.

According to @FoxNews, the U.S. Senate has passed a major budget bill without including a crypto-friendly tax amendment proposed by Senator Cynthia Lummis. The provision would have waived capital gains taxes on smaller digital asset transactions, but its exclusion means the current tax rules remain unchanged for now, a key point for traders to consider. In a contrasting development, President Donald Trump reiterated his pro-crypto stance at a Coinbase summit, promising his administration would work toward creating "clear and simple market frameworks" for the industry. Trump also referenced support for stablecoin legislation and his previously announced, though not yet established, plan for a "US Strategic Bitcoin Reserve." This mixed political signal sees Bitcoin (BTC) trading around $108,183 and Ethereum (ETH) near $2,506, showing relative market stability as traders weigh the legislative setback against potential executive support.

According to @FoxNews, the U.S. Senate has passed a major budget bill without including a key cryptocurrency tax amendment proposed by Senator Cynthia Lummis. The proposed changes aimed to provide significant tax relief for crypto users by waiving capital gains taxes on transactions under $300 and altering the tax treatment of staking and mining rewards. The amendment would have taxed these rewards only upon their sale, rather than upon acquisition and again at sale, which the industry views as double taxation. As the provision was not included, the current U.S. tax rules remain in place, meaning small transactions are still subject to capital gains reporting, and staking and mining rewards continue to be taxed as income upon receipt. This legislative outcome maintains the existing tax compliance burdens for traders, stakers, and miners in the United States. The overall bill, which now heads to the House of Representatives, passed the Senate on a narrow 50-50 vote.

According to @FoxNews, the U.S. Senate has passed a major budget bill without including a key cryptocurrency tax amendment proposed by Senator Cynthia Lummis. The proposed changes, which were not adopted, aimed to significantly benefit crypto traders and investors by waiving capital gains taxes on transactions under $300 and altering the tax treatment for staking and mining rewards to be taxed only upon sale, not acquisition. The source states that this amendment would have addressed what the industry considers unfair double taxation on rewards from staking, mining, airdrops, and forks. Despite lobbying efforts from the digital assets industry, the failure of this provision to be included means the current, less favorable U.S. tax rules for crypto activities remain in place, leaving continued uncertainty for market participants. The budget bill now proceeds to the House of Representatives for further debate and voting.

According to @cas_abbe, a significant pro-crypto tax amendment proposed by Senator Cynthia Lummis was not included in the major budget bill that recently passed the U.S. Senate. For traders and investors, this is a notable setback as the amendment sought to provide substantial tax relief. Key proposals included waiving capital gains taxes on crypto transactions under $300 and, critically, changing the tax treatment for staking and mining rewards. The proposed change would have taxed these rewards only when they are sold, rather than upon both receipt and sale, which the industry argues constitutes unfair double taxation. The amendment also aimed to address rules for wash sales, crypto lending, and airdrops. With the proposal's failure to be included, the current tax framework remains in place, leaving crypto investors and miners without the anticipated regulatory clarity and financial relief. The main budget bill now proceeds to the House of Representatives for another vote.